19-26,109.   Same; administration of property, duties of board.The board shall assume possession and control of anyproperty acquired by it under this act and shall hold and administer suchproperty. In the administration of property, the board shall:

      (a)   Manage, maintain and protect or temporarily use for a public purposesuch property in the manner the board deems appropriate;

      (b)   compile and maintain a written inventory of all such property. Theinventory shall be available for public inspection and distribution at alltimes;

      (c)   study, analyze and evaluate potential, present and future uses for suchproperty which would provide for the effective reutilization of such property;

      (d)   plan for and use the board's best efforts to consummate the sale orotherdisposition of such property at such times and upon such terms and conditionsdeemed appropriate;

      (e)   establish and maintain records and accounts reflecting all transactions,expenditures and revenues relating to the bank's activities, including separateitemizations of all transactions, expenditures and revenues concerning eachindividual parcel of property acquired; and

      (f)   thirty days prior to the sale of any property owned by the bank, publishanotice in the official county newspaper announcing such sale.

      History:   L. 1996, ch. 264, § 18; July 1.